SEATTLE, Nov. 14, 2025 /PRNewswire/ -- Fourth Avenue Capital (FAC) has announced the acquisition of Ridgewood, a 96-unit Class A apartment community located in Medford, Oregon. The acquisition expands FAC's portfolio to 28 properties, including 13 others in Oregon.

Built in two phases between 2002 and 2004, Ridgewood was originally built as for-sale condos featuring 96 units across 13 residential buildings, and a standalone leasing office. The community offers large units averaging 1,380 square feet. Residents benefit from having a private garage for each unit plus additional surface parking resulting in a parking ratio exceeding two spaces per unit.

Unit configurations include 2-bed / 2-bath or 3-bed / 2-bath ranging in sizes between 1,127 SF and 1,599 SF - representing the largest floorplans in the area. Ceiling heights are 9 feet, with 10-foot vaulted ceilings in second floor living areas. Interior finishes include laminate countertops, hardwood cabinets, large kitchen configurations, washer/ dryer hookups, patios and decks, air conditioning, and a mix of vinyl plank and carpet flooring. 

Medford is the largest city in southern Oregon and boasts an MSA of 228,000+ people. It has a diverse and stable job base anchored by healthcare and education. Medford offers a high quality of life with access to golf courses, wineries and Mount Ashland Ski area, all within 45 minutes of the city. The largest employer is the Asante Health System which is underway on a $1B+ expansion whose primary hospital Rogue Regional Medical Center is less than one mile from Ridgewood. 

FAC assumed the Seller's existing financing which carries a favorable rate of 3.89% until 2030. 

"Ridgewood is an infill, condo-quality asset with differentiated floorplans due to their size," said Davis Vaughn, Managing Partner at Fourth Avenue Capital. "By selectively focusing on growing secondary markets with limited supply we are able to deliver outsized yield to our investors."

About Fourth Avenue Capital

Fourth Avenue Capital is a real estate investment, development, and operating company headquartered in Seattle and Spokane, Washington focused on middle-market multifamily assets in the Pacific Northwest. FAC has acquired over 1,500 units/ beds to date and has a development pipeline exceeding 500 units and $150M cost. FAC's existing assets under management total more than $450M.

Fourth Avenue Capital plans to expand its portfolio through strategic acquisitions, leveraging strong relationships with industry partners and its ability to identify attractive investment opportunities. By aligning investor interests and implementing sustainable practices, the company aims to create lasting value while making a positive impact on the communities it serves.

For more information about Fourth Avenue Capital, please visit www.fourthavecapital.com

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Fourth Avenue Capital

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www.fourthavecapital.com

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SOURCE Fourth Avenue Capital